Integrated PV Doing Better than Specialists
Q2 EBIT margins of integrated players such as SolarWorld, Trina, REC and Canadian Solar were far stronger than the operating losses recorded at specialist cell makers Q-Cells & JA Solar and wafer producers LDK & ReneSola. Chinese solar companies reported Q2 numbers during August: All companies improved sales compared to the weak Q1, but further margin erosion due to declining module prices. In addition, companies became more prudent with respect the full year outlook. Q-Cells announced a restructuring program called Reloaded to achieve cost cutting. Q-Cells will permanently shut down production lines I to IV (360MW or one-third of capacity) laying off 500 workers and recording asset write-downs of EUR 100 million.
